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Supportandresitance

ETH/USDT 1H Short-TermHello everyone, let's take a look at the ETH to USDT chart on a one hour time frame. The price still remains below the local downtrend line. After unfolding the Fib Retracement grid, there is support at $2,470, followed by strong support around $2,380. Looking the other way, you can see how the price turned back before the resistance at $2,499, while we still have a strong resistance zone from $2,573 to $2,614. There is room for growth on the RSI, but the STOCH indicator has exceeded the upper limit and we have a visible rebound, with room for a larger price decline.
by cryptodailyuk
BTC/USDC Short-TermHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price has dropped significantly and remains below the downtrend line. After unfolding the trend based fib extension grid, you can see support at $40,602, and then strong support at $39,217. Looking the other way, we have resistance at $41,476, the second at $41,936, and the third strong resistance at $42,664. The RSI shows room for the price to go lower, while the STOCH indicator is approaching the lower limit, which stopped the price decline.
by cryptodailyuk
Mastering Support & Resistance This video dives into the fundamentals of support and resistance, the cornerstones of technical analysis. We'll cover: ** Identifying trends:** Learn how to spot bullish and bearish trends using higher highs/higher lows (HH/HL) and lower highs/lower lows (LH/LL). ️** Support & Resistance Levels: Discover how to pinpoint key price levels where the market may bounce or reverse, creating potential trading opportunities. ** Fibonacci: Unlock the power of the Fibonacci retracement to identify high-probability trade entry points at the 61.8% level.
Education
by fxtraderanthony
LINK/USDT 4HInterval ChartI invite you to review the LINK chart on a four-hour interval. As we can see, the price has overcome the downward trend lines, but currently the blue lines mark the upward trend channel that the price has created with upward movements. Let's start by laying out the Fib Retracement grid, which will help determine price support points, and we can see that first we have support at $14.80, and then we can see a strong support zone from $13.10 to $12.20. Looking the other way, we can similarly determine the resistance areas that the price must face. And here you can see the price approaching a strong resistance zone from $16.48 to $17.64. If the price breaks out of this zone and tests it positively, we may see increases towards the resistance level of $31. Please look at the RSI indicator because you can see that we are approaching the upper limit, but there is still room for further increases. However, the STOCH indicator shows an increase to the upper limit, which limits the upward movement and may result in a price recovery.
by cryptodailyuk
BTC 1H Bearish Pennant?Hello everyone, I invite you to check the current situation on BTC in the USDT pair, taking into account the short interval of one hour. We will start by defining the downward trend line in yellow, and here we can see how the price left this line sideways and formed the so-called Bearish Pennant, which we used blue lines to mark. It's worth taking a moment to discuss Bearish Pennant here, as it is characterized by a downward price breakout. We can determine the stoploss level and then go lower and determine the entry level if we want to play a short position. And in this situation, you can often see a breakout at the height level between the stoploss position and the entry into the position. Now we can move closer to the chart taking into account recent price movements in order to check for resistance points in the event of a trend reversal. And here, after unfolding the trend based fib extension grid, you can see resistance at the level of $43,124, and then, near the designated stoploss, you can see the resistance zone from $43,882 to $44,281. Looking the other way, we can similarly identify support areas when the price starts to fall lower. And here you can see how the price is based on the support zone from $42,518 to $42,225, but if the zone is broken, we will see support around $41,393. At this point, it is worth turning on the EMA Cross 10 and 30 indicator, because we can see how the red line crossed the green line from above, which confirms the return to the local downtrend. The RSI indicator shows that it has started to reverse after crossing the middle of the range and still has room to decline. However, the STOCH indicator shows that energy is starting to run out, which may cause the price to slow down again.
by cryptodailyuk
XAUUSD BUY & SELLHi Friends, Another analysis on gold. As always I keep everything simple. So we have multiple levels of buy and sell. Our immediate sell level is 2047-2049 which price has reacted to. Below it we have level 27-29 as our demand level and also below it another one. in case market continues rallying up we have couple supply levels like area 61 and 73. So we have to wait for the NEW YORK session in order to see the direction of the market. *make sure to pay attention to the PPI news being published later today Be honorable
OANDA:XAUUSD
by AliHassanzadeh
4
New Trade: XAUUSD - Long Position New Trade: XAUUSD Long Position Entry: 2028 Stop Loss: 2025.50 Take Profit: 2042 Trade Strategy: Initiating a long position with an entry at 2028, a stop loss at 2025.50, and a take profit at 2042. This strategy is designed to capture potential upward momentum while keeping risk exposure controlled. Low Risk, High Reward Trade: This XAUUSD trade positions itself as a low-risk, high-reward opportunity. With an entry at 2028 and a tight stop loss set at 2025.5, the risk exposure is minimized. This strategic approach aims to capitalize on potential upward movement. Risk-Reward Ratio (RRR): 5.6:1: The trade boasts an impressive Risk-Reward Ratio of 5.6:1, indicating the potential for a substantial reward compared to the risk undertaken. This ratio underscores the calculated nature of the trade, aligning with prudent risk management principles. Technical Analysis: The decision to go long is supported by technical analysis, with the entry point coinciding with favorable market conditions. The trade leverages a precise entry and stop loss to enhance the risk-reward profile. Disclaimer: Trading involves risk, and past performance is not indicative of future results. Conduct thorough analysis and exercise due diligence before making trading decisions. Happy trading! 🌐📈
FOREXCOM:XAUUSDLong
by CeeJay_Trades
2
BNB/USDT Short-Term 1HHello everyone, let's take a look at the BNB to USDT chart on a one hour time frame. As you can see, the price is moving above the local uptrend line. After unfolding the trend based fib extension grid, you can see support at $311, and then a support zone from $299 to $293. Looking the other way, strong resistance appears at $324, followed by a resistance zone from $338 to $345. The RSI indicator is recovering with room for further decline, while the STOCH indicator has a temporary rebound, which keeps the price falling.
by cryptodailyuk
New Trade: EURNZD - Short Position (SELL LIMIT)New Trade: EURNZD - Short Position (SELL LIMIT) Sell Limit: 1.7740 Stop Loss: 1.7780 Take Profit: 1.7550 Technical Analysis: Initiated a short position on EURNZD with a Sell Limit set at 1.7740. The decision is anchored in technical analysis, specifically targeting the Fibonacci "golden zone" and incorporating the Anchored VWAP for additional confirmation. Rationale: The Fibonacci retracement levels indicate a potential reversal within the "golden zone," supported by the Anchored VWAP for enhanced technical conviction. Risk Management: A defined Stop Loss at 1.7780 is in place to manage risks effectively, ensuring a disciplined approach to protect capital against unexpected market movements. Trade Strategy: Take Profit set at 1.7550 aligns with the anticipated downward movement. The combination of Fibonacci levels and Anchored VWAP serves as a robust strategy for this short position. Disclaimer: Trading involves risk, and past performance is not indicative of future results. Exercise caution and conduct thorough analysis before making trading decisions. Happy trading!
Short
by CeeJay_Trades
WHATS NEXT FOR BITCOIN? 📉📈New Trade: BTCUSD - Short Position (SELL LIMIT) Sell Limit: 44300 Stop Loss: 46500 Take Profit: 35250 Market Overview: Bitcoin (BTC) has witnessed substantial volatility over recent years, hitting a high of $67,000 before experiencing a significant pullback during the "crypto winter." Presently, BTC is engaged in a period of oscillation as it seeks recovery. Trade Strategy: Initiating a short position with a Sell Limit at 44300, a Stop Loss at 46500, and a Take Profit at 35250. Fibonacci Golden Zone: Notably, the current market conditions position BTC in the Fibonacci golden zone, a key level with historical significance. Short-Term Expectation: Despite the overall bullish sentiment for Bitcoin, the Relative Strength Index (RSI) signals an overbought condition, introducing a bearish signal. This trade aims to capitalize on the potential downside movement. Long-Term Outlook: A longer-term outlook targeting $60,000 is plausible, given recent attempts to establish a bottom and signs of strength observed over the past monthly candlesticks. However, patience is key as a decisive upward move may take time, but with the halving coming up in April 2024 - anything is possible! Technical Indicators: Headwinds, such as rising interest rates, have impacted Bitcoin's recent performance. The RSI, signalling overbought conditions, suggests a potential corrective move. Additionally, the 21 EMA is crucial; a resistance above this level could generate bullish signals. Risk Advisory/Disclaimer: Trading involves risk, and the cryptocurrency market is known for its volatility. Prudent risk management is advised to navigate market dynamics. Past performance is not indicative of future results. Conduct thorough analysis and exercise due diligence before making trading decisions. Happy trading! 🌐📉
BITSTAMP:BTCUSDShort
by CeeJay_Trades
BITCOIN GAPS IN PERFECT LOCATION!!?! Still Bullish!There are 2 gaps on the #CME that will most likely get filled. A short move up to fill the most recent gap , then a move down to fill the gap around $39500. This will still keep #Bitcoin in an HTF uptrend. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
CME:BTC1!
by Navitility
ETH/USDT 4H ChartI invite you to review the chart of ETH in pair with USDT, also on a four-hour time frame. You can see here a similar movement behavior as in the BTC chart, it can also be defined with blue lines, a local channel of an upward trend, in which the price remains for now. Going further, it is worth spreading the fib retracement grid to determine price supports. And as you can see, the first support at $2,472 maintains the current declines, we will further define the support zone from $2,319 to $2,209, and when the price breaks out of this zone it may go down to $2,071 Looking the other way, you can see that the resistance level at $2,553 stops the price from making larger moves, but if we come out on top, it is still worth marking the resistance zone from $2,664 to $2,720, which stops the price from moving towards $2,900. In this situation, it is worth looking at the EMA Cross 10 and 30 indicator, because you can see how the red EMA Cross 10 line is approaching the intersection of the green EMA Cross 30 from above, which could give a local downward impulse. On the RSI indicator, we reached the middle of the range, with room for further movements, while the STOCH indicator rebounded dynamically, but this may indicate a temporary local movement of the side trend.
by cryptodailyuk
1
BTC/USDT 4H Interval Chart ReviewHello everyone, I invite you to check the current situation on BTC in the USDT pair, taking into account the four-hour interval. First, we will use blue lines to mark the local channel of the upward trend, from which we could observe how the price dynamically breaks out from the bottom. After determining the height of the channel, we can see that the price drop after leaving it at the bottom resulted in a similar level of declines. Now we can move on to marking support areas in case the correction begins to deepen. And here, after unfolding the Fib Retracement grid, it is first worth marking the support zone from $42,521 to $40,791, but when we fall below this zone, we may experience another quick price drop to around $35,689. Even to confirm, after unfolding the trend based fib extension grid, it can be seen that the level of the lower border of the support zone coincides with the level of 1.618fib, while the support below coincides with the level of 2.618fib. Looking the other way, in a similar way using a fib retracement mesh, we can determine the places of resistance. Here we will start by identifying the resistance at $44,356, then it is worth considering the resistance zone from $47,377 to $48,999, which includes the currently established peak, and then we see resistance around $53,512. After turning on the EMA Cross 50 and 200 indicator, you can see that despite the strong rebound that was triggered by events related to spot etf on BTC. resulted in a decline of approximately 15%, but the indicator still indicates a strong upward trend. The RSI indicator shows a slight increase despite a slight price change on the chart, while the STOCH indicator shows a strong upward movement, which creates room for a new downward impulse that we should keep an eye on.
by cryptodailyuk
BTC/USDT 1HInterval ChartHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price is getting closer to leaving the triangle and taking a direction. When we unfold the fib retracement grid, we can see a fight against strong resistance at the level of $43,033, and then we can see the zone from $43,454 to $43,989. Looking the other way, there is support at $42,579, followed by a support zone from $41,882 to $41,504. On the RSI indicator we are returning to the middle of the range, while on the STOCH indicator we are again approaching the upper limit, which may result in a new price recovery.
by cryptodailyuk